There's no competition when it comes to regulation. Should unelected officials be allowed to order the confiscation of some or all guns and ammunition in the United States? This is the question posed by Sen. Jon Corzine (D., N.J.) and Rep. Patrick Kennedy (D., R.I.), in their proposed Firearms Safety and Consumer Protection Act. As one might suspect, the bill is about neither firearm safety nor consumer protection, but is an especially clever stratagem by the gun-prohibition lobby. The Kennedy-Corzine bill would give the Treasury Department and the courts nearly unlimited powers to restrict firearms manufacture and sales, and to...